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Richard's Thoughts on Why Gold is So Important

Daily Recap

Overseas stock markets were not at all pleased with President Trump's announcement of tariffs on steel and aluminum imports. Almost across the board, European exchanges fell 2% or more, led by losses in steel producers. Talk of retaliation against US tariffs is already in the air. Additionally, concern about Prime Minister Theresa May's vision for post-Brexit relations has investors worried. The ultimate result was a 2.09% deluge in the STOXX 600, making the Asia Dow's 0.89% fall seem mild by comparison.

In the US, stocks opened sharply lower, then eventually rallied to the unchanged level, with the NASDAQ still the strongest, trading well on the upside of yesterday's close. Trade war fears were the main feature, with a disappointing sales projection for McDonalds a big further drag on the Dow Industrials.

Fixed income markets gave back much of yesterday's gains. The yield on the US 10-year note finished with a 2.855% yield. ... Log in or subscribe to continue reading.


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